Updates to Take Charge and NJ Cool programs will expand EV charging infrastructure and bolster building decarbonization

TRENTON, N.J. (August 26, 2026) – The New Jersey Economic Development Authority (NJEDA) Board recently approved modifications to the Take Charge Program and the NJ Cool Program to increase available funding, advance new solar and energy storage installations, reduce energy bills for businesses and institutions, and drive down greenhouse gas emissions. The approved changes align both programs with Governor Mikie Sherrill’s efforts to expand power generation, lessen strain on the state’s power grid, and lower energy costs, supporting affordability for the state’s residents and entrepreneurs.

“New Jersey’s businesses are the backbone of our economy, and we are committed to giving them the tools they need to grow, create jobs, and thrive,” said Governor Mikie Sherrill. “By aligning programs like Take Charge and NJ Cool with our broader energy affordability agenda, we are helping businesses lower costs and invest in their future. I’m grateful to the NJEDA for their partnership as we work to make New Jersey a more affordable and competitive place to do business.”

“Governor Sherrill understands that supporting business growth in New Jersey requires meaningful action on energy affordability, and in her first six months in office, she has enacted reforms to freeze energy rates, expand power supply, and bring real relief to ratepayers,” said NJEDA Chief Executive Officer Evan Weiss. “The changes to Take Charge and NJ Cool will align the NJEDA’s clean energy toolkit to Governor Sherrill’s energy affordability agenda, unlocking capital for business owners to continue growing their enterprises in the Garden State.”

The Take Charge Program will use Regional Greenhouse Gas Initiative (RGGI) funds to help commercial organizations cover the costs of establishing electric vehicle charging infrastructure for private fleets. Under the changes to the Take Charge Program approved by the Board, the minimum grant award size per project will be increased from $50,000 to $100,000 and the installation of on-site renewable energy generation or energy storage systems will be required as part of the proposed project scope. These modifications better align the program with the state’s current energy priorities, including the adoption of Virtual Power Plants (VPPs), which will better manage grid resources, lower electricity costs, and provide a future revenue source to participants.

Under the NJ Cool Program, the NJEDA utilizes RGGI funds to provide grants of up to $1 million for 50 percent of eligible project costs for building retrofit projects that reduce greenhouse gas emissions, helping create efficient, affordable, and more resilient buildings while supporting New Jersey’s broader clean energy goals. Phase 2 of the program will require updates to the building’s existing heating or cooling system and installing on-site renewable energy generation or energy storage systems.

The NJ Cool Program complements the NJEDA’s Reducing Emissions through Retrofits, Optimization, Fuel-Switching, and Innovative Technologies (RETROFIT NJ) Grant Program, which supports multi-pronged, large-scale retrofit projects that enable holistic energy improvements for buildings, campuses, and multi-building facilities. In June, the NJEDA announced it awarded 10 large-scale projects a total of $79 million under the RETROFIT NJ Program. The NJEDA recently updated the RETROFIT NJ Program to expand available funding and advance more solar generation, battery storage, and thermal energy network projects. Applications for Phase II of the RETROFIT NJ Program are expected to open later this summer.

The NJEDA’s other clean energy programs have continued to advance innovative energy projects during Governor Sherrill’s first months in office. Recently, the NJEDA and Nuveen Green Capital closed a $101 million loan under the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program to support the construction of energy efficiency and renewable energy projects for the upcoming Lionsgate film studio in Newark. Additionally, more than $53 million in voucher funding has been approved under the New Jersey Zero-Emission Incentive (ZIP) Program in 2026, assisting in the purchase of 791 zero-emission medium- and heavy-duty vehicles from NJ-based dealerships, with more approvals ongoing. 

Collectively through its programs, the NJEDA has invested over $180 million in clean energy projects in 2026 so far. For more information on the NJEDA’s clean energy programs, visit www.njeda.gov/clean-energy/.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Funding will facilitate the installation of energy efficiency, renewable energy, EV charging, and water conservation measures  

TRENTON, N.J. (August 13, 2026) – Today, the New Jersey Economic Development Authority (NJEDA) and Nuveen Green Capital announced the closing of a $101 million loan under the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program. The funding, administered alongside senior lender and alternative investment manager MCCP, will support the construction of energy efficiency and renewable energy projects for the upcoming Lionsgate Studios Newark, which is owned and operated by Great Point Studios, increasing power generation, easing upfront costs for developers, creating high-quality jobs, and expanding New Jersey’s nation-leading film and television infrastructure.   

 C-PACE financing will be used to install seven electric vehicle charging stations and a 1.1 mega-watt (MW) solar power system with anticipated annual generation of 1.34 million kilowatt-hours (kWh), advancing Governor Mikie Sherrill’s efforts to bolster power generation and lower costs for New Jerseyans. Energy-efficient building envelope, lighting, and electrical HVAC systems will also help reduce electricity consumption by 388,000 kWh annually, reducing strain on the power grid and lowering utility costs, while water conservation measures are projected to save 259,000 gallons of water annually.  

“Governor Sherrill has taken meaningful action throughout her first year in office to expand power generation, cut red tape for businesses, lower costs for New Jerseyans, and strengthen the state’s high-growth industries,” said NJEDA Chief Executive Officer Evan Weiss. “To advance the Governor’s efforts, the NJEDA continues to make impactful investments through its clean energy programs, and support for Lionsgate under the Garden State C-PACE Program exemplifies the tremendous economic opportunities available for businesses while simultaneously bolstering the state’s booming film and television industry.”  

The Garden State C-PACE Program allows property owners to repay investments from Qualified Capital Providers into eligible projects through a special assessment to a Participating Municipality, similar to the owner’s real property tax, sewer, or water bill. The Participating Municipality then remits the payment to the initial capital provider. This unique form of financing results in lower-cost, longer-term financing, making it easier for projects to be cash flow positive from the outset. Municipalities are required to opt-in prior to any project application.  

“We are thrilled to partner with NJEDA as well as MCCP to capitalize this significant project, which marks not one, but two milestones, as the largest C-PACE transaction ever closed in New Jersey and the first in the city of Newark,” said Mike Doty, Senior Director of Originations, Nuveen Green Capital. “Through C-PACE, the sponsor will realize meaningful cost savings by financing eligible improvements at a competitive rate over a longer term, preserving capital that can be redeployed into the development itself. As C-PACE continues to expand across asset classes and use cases, it is exciting to see it applied to a project of this scale and cultural significance, one that is strategically located close to New York City and will bring jobs, production activity, and sustainable infrastructure to Newark for years to come.”

Lionsgate Studios Newark will sit on a 12-acre site and feature six soundstages designed to accommodate simultaneous film and television productions of varying scale. The property will include comprehensive production support infrastructure with mill shops for set construction and fabrication, dedicated production offices, support space, and equipment storage. The studio will also provide career training to Newark high school students as the film and production economy in New Jersey continues to grow. Construction is expected to be complete in 2027.   

Lionsgate Studios Newark was announced as New Jersey’s first-ever Studio Partner in December 2022, allowing the company to access expanded benefits under the state’s Film and Digital Media Tax Credit program. Under the designation agreement, Lionsgate (NYSE: LION) commits to occupy a New Jersey film production facility for at least 10 years and is potentially eligible for a 40 percent base tax credit for qualified production expenses on future New Jersey film projects.  

Since the state’s Film and Digital Media Tax Credit Program was reinstated, film production in New Jersey has surged. In 2024, in-state production spending from filmmaking hit an estimated $834 million, surpassing the previous record of $701 million in 2022. To accommodate the surge in film production, the new Lionsgate Studios Newark, along with Netflix’s new studio at Fort Monmouth and 1888 Studios in Bayonne, will significantly expand the state’s film and television infrastructure, attracting more productions, creating jobs, and stimulating local economies.    

“Newark represents one of the most exciting opportunities for the future of film and television production,” said Robert Halmi, Founder and CEO of Great Point Studios. “This financing is an important milestone that allows us to bring a world-class, purpose-built studio to a city with tremendous potential. Lionsgate Newarkwill deliver sustainable infrastructure that supports the next generation of film and television production while creating high-quality jobs, supporting local businesses, and helping establish Newark as a new center for creative and economic growth.”

“As large and as creative as this complex financial transaction is, it is dwarfed by the enormous benefit it bestows on the people of our city,” said Newark Mayor Ras J. Baraka. “Rising from a long-neglected expanse of land in the South Ward, this investment brings palpable hope in the form of forward-facing infrastructure, job creation and over-arching economic development. The construction phase brings employment and infuses collateral spending in the neighborhood. The studios spur relevant workforce development, permanent careers and a host of local support businesses. Beyond that, by signing the Community Benefits Agreement, Great Point has committed to ongoing educational, arts and cultural programs that will further enrich residents of all ages, for generations to come.”

 “Asset Environments appreciates our continued relationship with NJEDA and Nuveen Green Capital to evaluate and review the energy and economic impacts of exciting developments in New Jersey. Working with outstanding administrative, financing, design, and engineering teams are what allow projects like this to be successful,” said Asset Environments Energy Engineer Troy Teeter. “New Jersey C-PACE’s use of whole building energy modeling in combination with bonus technologies provides access to capital financing with tangible benefits to the sponsor. Through the PACE review process, the project design team implemented additional energy saving improvements into the building’s design enabling access to additional financing. As a result, the project is expected to reduce its total site energy consumption to align with the project’s sustainability and operational goals, while maximizing financial benefit. This project is a showcase of how sustainably minded borrowers benefit from the advantages of C-PACE as a tool to both improve their building and meet their financial goals.”

Over the past decade, C-PACE programs in more than three dozen states have proven an effective tool to attract private capital into the renewable energy, energy efficiency, and resiliency markets. To date, according to the non-profit entity PACENation, there have been 3,581 C-PACE projects throughout the United States, which have drawn a collective investment of over $9.75 billion and have created 148,795 jobs. The Garden State C-PACE Program is already making meaningful investments in projects around the state, closing more than $176 million in financing since launching in July 2025.   

A list of current Participating Municipalities, Qualified Capital Providers, and Qualified Technical Reviewers can be found here. The NJEDA will continue accepting applications for municipalities, capital providers, technical reviewers, and C-PACE projects on a rolling basis.   

For more information, including C-PACE eligibility requirements and program guidelines, visit https://www.cpacenj.gov/ or email Gardenstatecpace@njeda.gov.   

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Aligned with Gov. Sherrill’s clean energy goals, the second phase of the program will bolster efforts to reduce greenhouse gas emissions and energy costs

TRENTON, N.J. (July 28, 2026) – Last week, the New Jersey Economic Development Authority (NJEDA) Board approved modifications to the Reducing Emissions through Retrofits, Optimization, Fuel-Switching, and Innovative Technologies (RETROFIT NJ) Grant Program to expand available funding and advance more solar generation, battery storage, and thermal energy network (TEN) projects. The changes, which will take effect when applications reopen later this summer, support Governor Mikie Sherrill’s efforts to lower energy costs, reduce greenhouse gas emissions, and provide meaningful cost relief to residents and business owners.

“Starting on her first day in office, Governor Mikie Sherrill has taken aggressive action to expand energy capacity, bolster the state’s electric grid, and lower costs for New Jerseyans,” said NJEDA Chief Executive Officer Evan Weiss. “The changes to the RETROFIT NJ Program build on the NJEDA’s existing clean energy efforts to make energy efficiency, decarbonization, and power generation projects easier and more affordable, stimulating economic growth and enhancing our long-term economic competitiveness.”

The RETROFIT NJ program utilizes Regional Greenhouse Gas Initiative (RGGI) funds to support projects that advance at least three building decarbonization components, such as solar, energy storage, electrification of heating, refrigerant replacement, and energy efficiency upgrades, or is a TEN, which connects heating, cooling and/or hot water systems across multiple buildings. Funding can cover both hard and soft project costs, including design, engineering, equipment, construction, and commissioning.

The Board approved increasing the RETROFIT NJ Program’s base funding pool to up to $225 million to support future phases of the program if demand warrants. Projects involving a TEN will remain open to commercial, industrial, or institutional buildings, while projects without a TEN will be limited to institutional applicants serving a non-profit or public purpose or private manufacturers. To better align the program with Governor Sherrill’s Executive Orders 1 and 2, which aim to expand power generation and lower energy costs, projects that do not involve TENs must now include either on-site renewable energy generation or on-site energy storage as one of three required project scope categories.

In June, the NJEDA Board approved $79 million in grant awards to ten large-scale decarbonization and energy efficiency projects under the RETROFIT NJ Program, including a combined 20.3 megawatts (MW) of solar and 86.9 MW of battery storage and supporting $238 million in economic activity. The suite of approved projects will reduce electricity usage by 30.7 million kilowatts (kW) annually, relieving strains on the state’s electric grid and lowering energy costs. $54 million of the awarded funding has been directed to projects in the state’s Overburdened Communities.

Applications for Phase II of the RETROFIT NJ Program are expected to open in Summer 2026. For more information, visit https://www.njeda.gov/retrofit/ or email retrofit@njeda.gov.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Grant awards build on NJEDA’s facilitation of $100M+ in clean energy investments in 2026 so far   

TRENTON, N.J. (June 11, 2026) – Yesterday, the New Jersey Economic Development Authority (NJEDA) Board approved $79 million in grant awards to ten large-scale decarbonization and energy efficiency projects under the Reducing Emissions through Retrofits, Optimization, Fuel-Switching, and Innovative Technologies (RETROFIT NJ) Program. The awards, spread across nine communities throughout the state, will advance solar generation and battery storage projects, generate enough energy to power nearly 3,000 homes, lower energy costs, and eliminate over 845,000 metric tons of carbon dioxide equivalent emissions, promoting New Jersey’s clean energy goals and stimulating economic growth.

“Since day one, Governor Mikie Sherrill has focused on lowering energy costs and expanding grid capacity to bolster business growth, promote affordability, and attract investment,” said NJEDA Chief Executive Officer Evan Weiss. “Projects supported by the RETROFIT NJ Program will provide meaningful cost relief to residents and business owners, broaden energy capacity, and increase the reliability of the state’s electric grid, building on the NJEDA’s existing clean energy efforts to strengthen the state’s economic future.”

The awarded projects include a combined 20.3 megawatts (MW) of solar and 86.9 MW of battery storage, supporting $238 million in economic activity. The suite of approved projects will reduce electricity usage by 30.7 million kilowatts (kW) annually, relieving strains on the state’s electric grid and lowering energy costs. $54 million of the awarded funding has been directed to projects in the state’s Overburdened Communities.

The RETROFIT NJ program utilizes $79 million in Regional Greenhouse Gas Initiative (RGGI) funds. Each project includes at least three clean energy or electrification components, such as solar, energy storage, electrification of heating, refrigerant replacement, and energy efficiency upgrades, or is a thermal energy network (TEN), which connects heating, cooling and/or hot water systems across multiple buildings. Funding can cover both hard and soft project costs, including design, engineering, equipment, construction, and commissioning. 

The ten awards funded under the RETROFIT NJ Program are:

  1. Camden County Vo-Tech School – Sicklerville – $10,000,000 – The project includes installation of a 2.1 MW solar system, high global warming potential (GWP) refrigerant replacements, energy efficiency upgrades, and two electric vehicle charging stations.
  2. Christ Church/CARE Center of NJ – Rockaway – $6,912,694 – The project includes installation of a 1.78 MW solar system, air source heat pumps, high-GWP refrigerant replacements, and energy efficiency upgrades.
  3. DGMB Casino, LLC (Resorts Casino Hotel) – Atlantic City – $8,836,767 – The project includes installation of a 2.1 MW solar system, a 16 MW energy storage system, and a Building Management System upgrade to effectuate greater energy efficiency.
  4. Housing Authority of Plainfield – Plainfield – $2,992,534 – The project includes installation of a 69 kW solar system, air source heat pumps, high-GWP refrigerant replacements, and energy efficiency upgrades.
  5. Port Authority of New York and New Jersey – Newark – $2,874,953 – The project includes installation of a 581-kilowatt solar system, replacement of natural gas air and water heating units with electric heaters and heat pumps, energy efficiency upgrades, and three electric vehicle charging stations.
  6. Port Authority Trans-Hudson – Jersey City – $9,517,434 – The project includes installation of a 690.5-kilowatt solar system, replacement of multiple natural gas and oil-fired heating systems with clean alternatives, and energy efficiency upgrades.
  7. Rutgers, the State University of NJ – New Brunswick – $8,000,000 – The project will replace aging underground high-temperature hot water distribution piping with new, pre-insulated piping on and between Busch and Livingston Campuses, a thermal energy network that will provide heating, domestic hot water, and cooling to approximately 124 campus buildings.
  8. Showboat Hospitality LLC – Atlantic City – $9,892,850 – The project includes installation of a 4.3 MW energy storage system, high-GWP refrigerant replacement, and energy efficiency upgrades.
  9. Somerset Holmdel Development (Bell Works) – Holmdel – $10,000,000 – The project includes installation of a 12.99 MW solar system, high-GWP refrigerant replacements, and energy efficiency upgrades.
  10.  X-L Plastics – Clifton – $10,000,000 – The project includes installation of a 47 MW energy storage system, refrigerant replacements, replacement of gas-fired rooftop units and gas-fired domestic hot water heaters with high-efficiency electric heat pump systems, and energy efficiency upgrades. 

The RETROFIT NJ Program expands on the efforts of the NJ Cool program, which supports smaller to medium-sized building decarbonization projects. In 2026, $6.8 million in NJ Cool awards have been approved for 12 projects, projected to save 2 million kilowatt hours and 25,000 therms annually once construction is complete. Further examples of successful NJ Cool projects can be found on the NJ Cool webpage under the “Completed Projects” tab.

In addition to RETROFIT NJ and NJ Cool, the NJEDA’s other clean energy programs have continued to advance innovative energy projects during Governor Sherrill’s first six months in office. The NJEDA recently closed on a $2.49 million loan to THY Branchburg under the New Jersey Clean Energy Loans Program, which will support a 3.4 MW community solar project on a warehouse roof. Additionally, over $32 million in voucher funding was approved under the New Jersey Zero-Emission Incentive (ZIP) Program in 2026, assisting in the purchase of 463 zero-emission medium- and heavy-duty vehicles from NJ-based dealerships, with more approvals ongoing. This investment is complemented with the closing of $75.5 million in financing under the NJEDA’s Garden State Commercial Property Assessed Clean Energy (C-PACE) program, facilitating renewable energy generation, energy efficiency, water conservation, and other improvements in commercial properties.

Collectively through its programs, the NJEDA has invested over $180 million in clean energy projects in 2026 so far. For more information on the NJEDA’s clean energy programs, visit www.njeda.gov/clean-energy/.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (December 22, 2025) – Last week, the New Jersey Economic Development Authority (NJEDA) Board approved the creation of Phase 2 of the New Jersey Green Workforce Training Grant Challenge. Building upon the success of Phase 1, the $4 million grant program will position New Jersey residents for green economy careers, with a particular focus on serving New Jersey’s Overburdened Communities.

“Throughout the Murphy administration, the NJEDA has made major investments to support our clean energy future, helping build a stronger economy for the next generation,” said NJEDA Acting Chief Executive Officer Mary Maples. “The Green Workforce Training Grant Challenge is helping expand access to critical workforce development initiatives, ensuring New Jersey residents, particularly those in overburdened communities, are at the forefront for careers in the growing green economy.”

The competitive grant challenge will ask applicants to submit proposals that outline their plans to develop and implement workforce development initiatives to bolster the green economy, with a focus on New Jersey’s Overburdened Communities. Grants ranging from $500,000 to $800,000 will be awarded, and may be used to cover planning, outreach, construction, and implementation to offer training programs in green economy industries.

Following the New Jersey Council on the Green Economy’s Building our Resilient, Inclusive, and Diverse Green Economy (BRIDGE) initiative, the New Jersey Green Workforce Training Grant Challenge was first approved by the NJEDA Board in April 2024. Four applicants were approved under Phase 1 of the program, totaling $4.3 million in grant funding to support training programs in solar energy, weatherization, green infrastructure, electric vehicles and more. Phase 2 of the program is funded with $4 million provided through a Memorandum of Understanding between the NJEDA and the New Jersey Department of Environmental Protection (NJDEP).

Eligible applicants include, but are not limited to, community-based organizations, workforce training organizations, labor unions, technical high schools, county colleges, non-profits, regional workforce development boards, and private-sector companies. Applicants must include at least one Community-Based Organization (CBO) that serves one or more New Jersey overburdened communities as part of their application either as the primary applicant or a collaborator.

Applicants’ proposals must include their plans to implement workforce programs that provide industry-recognized credentials, connect participants with job opportunities in the green economy, develop outreach that targets and support a diverse and inclusive pool of participants, including those from overburdened communities, and define program evaluation and success metrics. The grant program will prioritize support of training programs that connect participants with near-term job opportunities in the green economy.

More information about Phase 2 of the New Jersey Green Workforce Training Grant Challenge, including eligibility requirements and a formal application, will be available at www.njeda.gov.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (November 25, 2025) – Purchaser applications are now open for the New Jersey Economic Development Authority’s (NJEDA) two programs that are aimed at decarbonizing transportation and saving businesses money. Together, Phase III of the New Jersey Zero Emission Incentive Program (NJ ZIP) and the first phase of the New Jersey Zero Emission Vehicle Financing Program (NJ ZEV Financing), aim to accelerate the adoption and use of commercial zero emission medium- and heavy-duty vehicles within the state, while reducing harmful greenhouse gas emissions and other pollutants.

WHAT:            NJ ZIP Phase III will provide vouchers to businesses and institutional organizations to offset the cost of purchasing new, zero emission medium- and heavy-duty vehicles. The size of vouchers awarded through this first round of Phase III, which is funded at $37.5 million, will vary depending on the class of vehicle being purchased, from a minimum of $15,000 for Class 2b vehicles to $175,000 for Class 8 vehicles. Bonuses will be available for school buses, small businesses; and women-, minority-, and veteran-owned businesses. Additionally, 50 percent of funds will be set aside for applications from small businesses in Overburdened Communities (OBCs).

NJ ZEV Financing, which is funded at $25 million, is a loan program to support businesses adopting medium- and heavy-duty zero emission vehicles. The program complements NJ ZIP by offering financing for vehicle costs that may not be met by NJ ZIP vouchers or other available grant funding resources. Loans will also be available through the program for businesses not utilizing the NJ ZIP program. NJ ZEV Financing will offer low-interest rate loans ranging from $50,000 to $500,000 for the purchase of one or more eligible vehicles.

WHO:              To be eligible, an applicant’s vehicle must be purchased within 18 months of voucher approval or issuance of a loan commitment letter and procured from an approved vendor.  Eligible vendors and vehicles for both programs will continue to be updated on a rolling basis.

WHEN:           Purchaser applications are now open and will be accepted on a rolling basis.

For more information about Phase III of NJ ZIP, click here.

For more information about NJ ZEV Financing, click here.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Take Charge Program builds upon Authority’s robust clean energy suite of products

TRENTON, N.J. (November 3, 2025) – A new clean energy program aimed to increase electric vehicle charging stations across the state was approved by the New Jersey Economic Development Authority (NJEDA) Board last week. The $50 million Take Charge Program will provide funding for charging infrastructure projects for private commercial fleets, helping bring more electric vehicles onto New Jersey’s roadways.

The Take Charge Program will help cover the costs, including hardware and related installation costs, of establishing electric vehicle charging infrastructure for private commercial fleets. Private fleets interested in adopting electric vehicles require consistently available and reliable charging infrastructure but often face high costs for installation and site upgrades necessary for charger operation.

“Under Governor Phil Murphy’s leadership, New Jersey is leading the way in advancing robust programs and initiatives aimed to create a cleaner environment for future generations,” said NJEDA Chief Executive Officer Tim Sullivan. “The Take Charge Program will complement the NJEDA’s other clean energy initiatives that support expanding the state’s fleet of electric vehicles, improving air quality, saving businesses money, and bolstering our green economy.”

Earlier this year, Governor Murphy announced that there are over 250,000 electric vehicle registrations in New Jersey, a new milestone in the state’s mission to reduce greenhouse gas emissions and transition to 100 percent clean energy.

For-profit commercial organizations with two or more commercial-use vehicles will be eligible to apply for the Take Charge Program. Funding may be used to cover the cost of labor, materials, and equipment associated with new charging stations, including wiring and electric work, on-site renewable energy generation, and upgrades for installation and operation. Click here for a full list of eligibility requirements and eligible project costs. Interested parties with any questions may email takecharge@njeda.gov.

The minimum award for the Take Charge Program is $50,000. Awards will be capped at 50 percent of eligible project costs, but the cap may be increased by 5 percent increments if certain criteria are met, including if a project is in an Overburdened Community. An applicant may apply for multiple projects across different sites, as long as the total award does not exceed $5 million. The program is funded through the Regional Greenhouse Gas Initiative (RGGI).

This new program builds upon the NJEDA’s continued efforts to put more zero emission vehicles on roads across the state. Earlier this year, the NJEDA approved Phase 3 of the New Jersey Zero Emission Incentive Program (NJ ZIP) and the New Jersey Zero Emission Vehicle Financing Program (NJ ZEV), which aims to accelerate the adoption and use of commercial zero emission medium- and heavy-duty vehicles within the state, while reducing harmful emissions. Vendor applications are now being accepted for both programs on a rolling basis, with purchaser applications opening soon.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (October 21, 2025) – Today, the New Jersey Economic Development Authority (NJEDA) announced Scott Lechky has been appointed as the first Executive Director of the New Jersey Green Bank (NJGB). The NJGB, which is a wholly owned subsidiary of the NJEDA, aims to use climate-related investments and financial assistance to mobilize private capital to accelerate the adoption of clean energy, advance New Jersey’s climate goals, and reduce the cost of energy for all utility ratepayers in New Jersey.

“Establishing the New Jersey Green Bank has been a pivotal step in Governor Murphy’s continued push to meet the ongoing challenges of climate change,” said NJEDA Chief Executive Officer Tim Sullivan. “As the Executive Director of the New Jersey Green Bank, Scott Lechky will work to inject capital into the state’s clean energy economy and support green businesses and good-paying jobs in the energy sector. Additionally, the investments made by the NJGB will pave the way for a cleaner and healthier environment for our residents and future generations.”

Lechky has over two decades of experience in energy and energy infrastructure investing, investment banking, energy project development, and corporate and project finance. He was the Founder and Managing Partner of Andelis Infrastructure Partners, a broker dealer and investment management firm focused on advising clients and investing in early-stage opportunities in the energy transition sector. Prior to launching Andelis, Lechky was the Chief Financial Officer of OYA Solar, a community solar developer that successfully placed 38 Mega Watts (MW) of solar projects into operations in New York. Lechky previously held investment banking roles focused on power, utilities, and infrastructure with Credit Suisse, Bank of America Merrill Lynch, and Barclays, and energy infrastructure investment management roles at Antarctica Capital and Alberta Investment Management Corp. (AIMCo).

“From more violent storms to increased flooding, the effects of climate change have become all too familiar here in New Jersey,” said Chief Economic Transformation Officer Kathleen Coviello. “We are excited for Scott Lechky to join the New Jersey Green Bank, which is poised to support the Murphy Administration’s mission to combat climate change, transition to 100 percent clean energy, and strengthen our communities and economy for generations to come.”

“As the energy industry faces unprecedented demand growth in the coming years, I am excited to lead the New Jersey Green Bank in collaboration with key industry stakeholders that seek to diversify and decarbonize our energy sources,” said New Jersey Green Bank Executive Director Scott Lechky. “I am looking forward to establishing partnerships with private capital in support of technological innovation and the clean energy entrepreneurs that are delivering a lasting and positive impact on our environment, the economy and New Jersey communities.”

Lechky holds a Master of Business Administration (MBA) from Northwestern University’s Kellogg School of Management with majors in Accounting and Analytical Finance and a Bachelor of Commerce Degree in Finance from the University of Alberta. He is also a Chartered Financial Analyst charter holder.

Reporting to the Board of Directors, Lechky will have overall strategic and operational responsibility for the NJGB’s staff, programs, and mission execution. In addition, Lechky will serve as the public face of the NJGB with key partners and stakeholders. Importantly, Lechky will provide strategic leadership and guide the organization through its critical start‐up and early growth phase – recruiting a high-performing team with deep investment and clean energy expertise, overseeing the completion of its first investments, and securing additional capital to scale impact across New Jersey.

Established in April 2024, the NJGB is a component of the 2019 Energy Master Plan and Governor Murphy’s Executive Order 316, which directed the NJEDA to implement programs supporting building electrification through the NJGB. As a subsidiary of the NJEDA focused exclusively on climate investments, the NJGB is well-positioned to attract private capital, including funds from public-private partnerships, as has been the case with other Green Banks in the United States. The NJGB intends to facilitate the development of climate and clean energy capital markets in the state through new forms of financial support, such as warehousing and securitization products, that address underdeveloped or nonexistent capital markets for these investments.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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Aimed at reducing greenhouse gas emissions and energy costs, RETROFIT NJ will expand upon the efforts of the existing NJ Cool program

TRENTON, N.J. (October 9, 2025) – Building upon the New Jersey Economic Development Authority’s (NJEDA) efforts to bolster the state’s clean energy economy, the Board approved a new program today aimed to reduce greenhouse gas emissions and energy costs. The Reducing Emissions through Retrofits, Optimization, Fuel-Switching, and Innovative Technologies (RETROFIT NJ) Grant Program will support multi-pronged, large-scale retrofit projects that enable holistic energy improvements for buildings, campuses, and multi-building facilities, expanding upon the efforts of the existing NJ Cool program.

“New Jersey is leading the nation in building a cleaner and more resilient future,” said Governor Phil Murphy. “The RETROFIT NJ Grant Program strengthens our commitment to reducing emissions, cuts energy costs, and drives innovation across our state. By investing in retrofit projects, we are not only protecting our environment, but also creating good-paying jobs and lowering costs for families and businesses.”

“Under Governor Phil Murphy’s leadership, New Jersey has made great strides in saving businesses money, lowering our carbon footprint, and fostering a cleaner and greener state,” said NJEDA Chief Executive Officer Tim Sullivan. “Programs such as RETROFIT will establish New Jersey as a national leader in large-scale building decarbonization efforts, while spurring economic activity and creating jobs.”

RETROFIT NJ will offer grant awards between $2.5 million and $12.5 million to commercial, industrial, and institutional building owners undertaking retrofit projects with a minimum total project cost of $5 million. Eligible projects must include at least three clean energy or electrification components, such as solar, energy storage, electrification of heating, refrigerant replacement, and energy efficiency upgrades. RETROFIT NJ will also provide support for projects implementing Thermal Energy Networks (TENs), an emerging technology that can significantly reduce emissions across multiple buildings. This program is the largest government construction grant program available for TENs in the country with up to $12.5 million available per project, demonstrating New Jersey’s strong leadership in advancing cutting-edge technology solutions to climate change.

“New Jersey is committed to combating climate change through impactful programs that aim to reduce our carbon footprint and promote a greener state,” said NJEDA Chief Economic Transformation Officer Kathleen Coviello. “With today’s approval of the RETROFIT NJ program, we’re expanding access to energy-efficient upgrades, strengthening our communities and economy, while helping businesses reduce energy use and save money.”

Currently, the NJ Cool program provides financial assistance to commercial, industrial, and institutional building owners and tenants undertaking retrofit construction projects that reduce operating greenhouse gas emissions from existing buildings in State-designated Overburdened Communities (OBCs) and Adjacent Community census blocks.

Since its launch in 2023, NJ Cool has been a popular program, receiving a high-volume of applications for smaller to medium-sized building decarbonization projects. The NJEDA has expanded the program’s eligibility requirements and infused an additional $15 million to support the program. With support from the NJ Cool program, awardees in Edison and Newark have utilized grant funding to make energy-efficient improvements, such as replacing natural gas heating, ventilation, and air conditioning (HVAC) units with electric units, installing solar panels, and replacing existing natural gas boilers with an electric variable refrigerant flow (VRF) system. Further examples of successful NJ Cool projects can be found on the NJ Cool webpage under the “Completed Projects” tab. The RETROFIT NJ program will complement NJ Cool by supporting larger, complex building decarbonization projects that fall outside the scope of limitations for NJ Cool.

The RETROFIT NJ program will utilize $75 million in Regional Greenhouse Gas Initiative (RGGI) funds, with 50 percent of the funding pool designated for applications submitted for projects in OBCs and/or for Institutional applicants for a one-year period. Funding provided by the program will cover both hard and soft project costs, including design, engineering, equipment, construction, and commissioning. Non-profit and institutional applicants will receive up to 60 percent reimbursement, while for-profit commercial entities are eligible for up to 50 percent reimbursement, with an additional 5 percent bonus for all projects located in OBCs. Applications will be accepted on a rolling basis with phased disbursement.

Applications for RETROFIT NJ are expected to open in the first quarter of 2026. For more information and a complete list of eligibility requirements, click here.

About the NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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TRENTON, N.J. (August 8, 2025) – The New Jersey Economic Development Authority (NJEDA) is now accepting project applications for the Garden State Commercial Property Assessed Clean Energy (C-PACE) Program. The program enables commercial property owners to access a new form of financing to undertake energy efficiency, water conservation, renewable energy, and resiliency upgrades.

WHAT:            The Garden State C-PACE Program allows commercial property owners to repay investments in eligible projects through a special assessment to a Participating Municipality, similar to the owner’s real property tax, sewer, or water bill. This unique form of financing results in lower-cost, longer-term financing, making it easier for projects to be cashflow-positive from the outset.

The Program will help drive private investment, from Qualified Capital Providers, throughout the State to help decarbonize existing and forthcoming buildings. Using the Program, property owners will be able to finance up to 100 percent of eligible improvements for Retrofit Projects and up to 35 percent of the stabilized value of New Construction Projects. Projects that were previously completed within the three-year look-back period are also eligible to apply.

As the Program Administrator, the NJEDA will review applications for eligibility and issue determination letters, as appropriate. Each application must include the Qualified Capital Provider, Qualified Technical Reviewer, and the name of the Participating Municipality.

The following entities have been approved and are now active participants in the program:

  • Approved Municipalities: 
    Hackensack, Lakewood, New Brunswick, Oldmans Township, Plainfield, and Woodbridge 
  • Approved Capital Providers: 
    PACE Loan Group and Petros PACE Finance 
  • Approved Technical Reviewers: 
    Asset Environments 

WHO:              Commercial, industrial, agricultural, certain multi-family residential, and tax-exempt and nonprofit property owners in approved municipalities are eligible to apply. For a complete list of guidelines and eligibility requirements, please click here.

WHEN:           Applications are now open and will be accepted on a rolling basis. To apply, click here. The NJEDA will continue accepting applications for municipalities, capital providers, and technical reviewers on a rolling-basis.

A previously recorded webinar containing additional information can be found here. The webinar slides can be found here.

To learn more about NJEDA resources for businesses, call NJEDA Customer Care at 844-965-1125 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, Instagram, and LinkedIn.

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